Modernizing the Credit Data Industry

Penned by Christian Widhalm, CEO & Mike Esler, CTO

When growing and scaling a business, you meet a lot of people: prospective clients, potential investors, job candidates, etc. In most industries, the audience will benefit from context around the competitive landscape. An interesting thing we’ve discovered about working in the credit industry is that everyone is familiar with it, though true expertise is widely varied, and everyone has a story they want to tell us.

One of the more memorable stories came from an individual who had accidentally wrecked his credit fifteen years ago. While in his twenties, he had accepted a five year assignment in London from his employer. After receiving his first credit card statement filled with foreign transaction fees, he opened a card with a UK bank and closed all his US cards. He returned to the US during the Great Recession of 2008 and thought he’d be able to purchase a condo at an amazing discount. Instead, he was denied a mortgage because he had no domestic credit history for the last 5 years. To rapidly establish credit history, he was advised…..

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